Gamble

But most retailers on – and offline – will find it difficult not to join in.

They may be reluctant to forgo full-price sales in the busiest season of the year. But if they don’t join the sales frenzy, they may lose out to rivals who do.

“I bet most retailers wish it was an American import that never arrived,” said Steve Rowe, chief executive of Marks and Spencer, another brand that isn’t offering Black Friday deals, though it does have some discounts running in store.

But discount supermarket Lidl is getting involved for the first time this year, whilst rival Asda announced Black Friday sales this week, after sitting it out in 2015 and 2016.

Moreover the intense competition has pushed retailers to start sales earlier and earlier, stretching back into October and to offer more and more items at a discount each year.

According to data collected from hundreds of stores by sales aggregating website Love the Sales, there was an unprecedented 43% increase in the volume of items on sale in October this year compared to last year.

That represents a big gamble. You have to order the stock in advance, but buy too little, and there won’t be enough left to take advantage of last-minute shoppers paying full price around Christmas. Buy too much, and deeper discounting will be needed in Boxing Day and January sales to clear the shelves.

Early Christmas

For smaller online retailers, like the computer accessories firm Velocity Electronics, there’s no question over whether to take part.

There is so much online traffic, it’s about making the most of it while you can, says co-founder Eddie Latham. Last year the firm saw sales of £350,000 in a single day.

“Everyone builds up for this day and it’s almost like Christmas has come early,” he says.

But if shoppers focus spending on one weekend in late November, does that mean they will buy more overall?

Black Friday may simply change the timing of when we make our purchases, says Alan Clarke, chief UK economist at Scotia Bank: “Why spend now when I can wait for the sales?”

Others though argue Black Friday is helping to promote a new consumer culture during the build-up to Christmas, which will help boost retail sales.

“Anything that helps to encourage consumers to go shopping and supports the retail sector is a good thing,” says Kien Tan, Director of Retail Strategy at consultancy firm PwC.